S&P500 Emini Futures 17th June 2022 Updated Report

 

S&P 500 Primary Cycles

Not surprised to see it spike down to 3257, as it did in 2020, but it's from July we begin to look for counter-trend moves If trading around 3257 coming into the end of the 3rd Quarter, there's a world of pain going into 2023 and much lower prices, which would be a 2022 Break & Extend Pattern down into new lows for 2023

S&P 500 Monthly Charts

We're coming down into levels that have previously provided a Target and also the Break & Extend Patterns from one Quarter into the Next. (3rd Quarter)

Similar Patterns in 2018 and also 2020

Down Target 3671 that may spike down to 3,257 Once we move into the 3rd Quarter, we begin to look for a retest of the break up at 4287.

S&P 500 E-mini Futures 5th June 2022 Monthly Report

 

S&P 500 Yearly & Weekly Cycles

The Target on the downside is the Yearly lows of 2022 

3830 - 3689

I would expect these levels to hold for the rest of this Quarter and probably provide June support.

Right into the 2022 Yearly lows and a decent bounce up into the June 50% level (I was expecting #Bitcoin to do the same)

The trend for the rest of the quarter will be based on the 2nd Quarterly lows of 4109.

It's either going to form support and push higher...

or

The June 50% level and the same Quarterly lows, form resistance into July and the start of the 3rd Quarter.